Boosting The Mortgage Market

Report:

Rolled out by the Department of Housing and Urban Development, the program will help homeowners refinance their mortgages through a more affordable government-back mortgage.
The program is part of the housing rescue bill passed in summer which insured $300 billion in mortgages.
But John Taylor, chief executive of the National Community Reinvestment Coalition, belittled the effect of the program on the mortgage crisis. Taylor pointed out in September alone 300,000 foreclosure filings were made, while the Hope for Homeowners program targets providing assistance to 400,000 homeowners only.
Massachusetts Attorney General Martha Coakley said prior to the launch of the program, problematic homeowners had their houses foreclosed due to lack of meaningful assistance from companies that service their mortgages. Coakley added loan modifications will stabilize the housing market, stop the rise of foreclosures and ensure cash flow to bring back value to mortgages and mortgage-back investments.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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